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Wednesday, Dec 6, 2023

Residential Project Set For Burbank

Worthe Real Estate Group is planning a five-story residential tower on a vacant, triangular-shaped parcel just north of the 134 Freeway in the Burbank Media District.

The project, located at 3201 W. Olive Ave., would see the construction of a mixed-use building featuring 144 apartments above 1,058 square feet of ground-floor retail space and two levels of underground parking. The apartments will be a mix of studio, one- and two-bedroom units, with 15 to be set aside as affordable housing units.

Downtown-based Wolcott Architecture is designing the proposed Bob Hope Center residential project, which has space along the southern side of the building dedicated to a swimming pool and amenity deck. A portion of the lot will be converted into Bob Hope Park, a publicly accessible area with a statue of the space’s namesake iconic comedian in the center.

The project is located immediately east of Talaria, Cusumano Real Estate Group’s 2019-debuted mixed-use residential project that features a Whole Foods Market on the ground floor.

Santa Monica-based Worthe owns several development sites in Burbank.
The firm is behind the Frank Gehry-designed Warner Bros. Second Century project — an overhaul of the main Warner Bros. lot — approaching completion to the east of the Bob Hope Center site.

Worthe and investment firm Stockbridge are creating an 800,000-square-foot office development. Warner Bros. will buy the remaining portion of the Burbank Studios, formerly known as NBC Studios.

Worthe has a $500-million soundstage and office complex in development at the historic Warner Bros. Ranch property. In a joint venture with Stockbridge, Worthe will transform the 32-acre Ranch lot in 2023. Warner Bros. will then reoccupy the lot in 2025 under a leaseback agreement.

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